SEPA

Single Euro Payments Area

SEPA – is an important initiative that has simplified transactions across:

The 28 countries of the European Community (plus associated territories)

The 3 European Economic Area (EEA) Member States (Iceland, Norway and Liechtenstein)

Monaco

Switzerland

San Marino

SEPA allows businesses to make and receive Euro payments in the same way that they would domestic transactions.

SEPA key benefits

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IBAN and BIC

SEPA has already brought many benefits. The main objective is to create a series of common standards, rules and payment processes for making payments across the Eurozone. This means if you are making a payment, you have to quote the beneficiary's International Bank Account Number (IBAN).

SEPA aims to continually improve the efficiency of cross-border payments. The complexities involved in such transactions are gradually being removed, to be replaced by a more streamlined infrastructure.

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SEPA-compliant services

As a major advocate of this important industry initiative, we are well placed to offer practical support to help you transition to the SEPA Credit Transfer and SEPA Direct Debit solutions.